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Bengaluru, November 6, 2024: HDFC Life, one of India’s leading insurers, recently partnered with riidl Somaiya Vidyavihar, the startup incubation centre supported by Somaiya Trust, to host the ‘Demo Day’ for Futurance Phase 6.

Futurance, an ongoing corporate engagement programme, initiated by HDFC Life, is designed to provide startups with opportunities to develop innovative, next-generation solutions. It involves a competitive process where applications are invited from startups. The shortlisted ones get a platform to present their solutions.

Further, the winners get an opportunity to engage with HDFC Life’s leadership team, collaborate with business units, expand their customer reach, and commercialise their products.

Currently in its sixth phase, Futurance 2024, focused on the areas of MedTech, MarTech and HRTech. The ‘Demo Day’ followed the evaluation of hundreds of applications across these focus areas. Seven startups were shortlisted to present their solutions, with the top three emerging as winners. These winning startups will now conduct a Proof of Concept (POC) with HDFC Life.

Commenting on the success of Futurance Phase 6 – Demo Day, Vineet Arora – Chief Business Officer – Distribution, Data & Technology HDFC Life, said, “At HDFC Life, innovation is a way of life. We are always looking for innovative solutions to address business challenges, and partnering with startups enables us to explore cutting-edge solutions. Futurance has consistently introduced us to startups capable of delivering impactful solutions. As an insurer, we constantly strive to enhance efficiencies and improve the overall customer experience.”

Gaurang Shetty, Chief Innovation Catalyst at riidl Somaiya Vidyavihar, stated, “Bestowed with the National Award by the Department of Science & Technology, riidl Somaiya Vidyavihar has been driving innovation and entrepreneurship since 2010. With support by the Department of Science & Technology, BIRAC, Department of Biotechnology, Govt of India, and the Maharashtra State Innovation Society- Government of Maharashtra, it has incubated over 250 startups and facilitated the creation of over 1,000 jobs and internship opportunities. At riidl Somaiya Vidyavihar, we are always creating and engaging in opportunities to help innovation driven founders grow and succeed. Our partnership with HDFC Life, through its Futurance program, has been instrumental in providing entrepreneurs the opportunity to pilot their solutions, which is often a challenge. This corporate engagement program offers startups the possibility of commercial partnerships upon successful pilot completion, enabling them to innovate and create real impact in the ecosystem.”

New Delhi, 25th October 2024 – NTPC has partnered with the Indian Army to establish a Solar Hydrogen-based Microgrid at Chushul, Ladakh. This significant step will provide a stable power supply using Green Hydrogen in off-grid Army locations. Today, Hon’ble Defence Minister Shri Rajnath Singh laid the foundation stone of this unique project through video conferencing in the presence of Chiefs of India defence services, CMD, NTPC and other senior officials from Ministry of Defence, Indian Army and NTPC.

NTPC has designed this innovative Solar Hydrogen-based microgrid system to operate independently, using hydrogen as an energy storage medium to supply 200kW of power round-the-clock throughout the year. This system will replace existing diesel gensets at off-grid Army locations, providing a sustainable power supply despite harsh winter conditions, where temperatures drop to -30°C at an altitude of 4,400 meters. NTPC will maintain the project for 25 years, aiming to support Indian soldiers stationed in these strategically significant tough terrains and challenging climate.

The Solar-Hydrogen microgrid is set to replace existing diesel generators currently in use at off-grid Army locations. These systems offer numerous advantages, including the integration of renewable energy sources, a stable power supply under adverse conditions, reduced carbon emissions, and the promotion of a cleaner and sustainable energy ecosystem as they are highly scalable and suitable for various applications. Moreover, these systems combine the reliability of battery storage with the extended energy storage capability of hydrogen, ensuring a consistent power supply.

Given Ladakh’s high solar irradiance and low temperatures, this project will facilitate the production and utilization of green energy, eliminating reliance on fuel logistics and enhancing self-sufficiency in remote areas affected by road connectivity disruptions. Once operational, it would usher in a new era of decarbonisation of the defence sector far off the Himalayas.

Additionally, NTPC started a trial run of a hydrogen bus in Leh recently towards achieving its renewable energy targets and carbon neutrality in Ladakh. The company is further setting up a hydrogen fuelling station and solar plant along with five fuel cell buses for operation on intracity routes in Leh.

NTPC is committed to achieving 60GW of renewable energy capacity by 2032 and becoming a major player in green hydrogen technology and energy storage domain. The company is pursuing several initiatives toward decarbonisation, including hydrogen blending, carbon capture, electric buses, and smart NTPC townships.